Contrary to some people's belief, increasing the #minimumwage is beneficial to the economy. The myth that paying more will dissuade employers from hiring more has been shattered time and time again. The statistics show us that unemployment reduces in times of minimum wage increases. This is because more money is circulating in the economy which leads to more demands for goods and services and so on. A poll showed that 67% of small business owners support an increase in the minimum wage..

Forty million American workers would be lifted out of poverty with an increase in the minimum wage. A proposed plan of $15 per hour would inject $120B into the economy. Consumer spending will increase the volume of trade and alleviate the living standards for millions of Americans.

A study on states that increased their minimum wage shows how it leads to a decrease in unemployment. The study followed 91 instances of an increase in the minimum wage at a time of high unemployment. It was found that in 47 cases, unemployment reduced over 12 months. 

This means that in times of high unemployment, an increase in the minimum wage reduces unemployment by 52%. Alabama and Tennessee saw their unemployment reduce by 1.6% and 1.4% respectively, far higher than the national average of 0.1%. This trend is seen in other states too. Unemployment is reduced with the passage of an increased minimum wage law.

The billionaires make a lot more than the common man. The solution is to tax the billionaires and use that money to fund the minimum wage. These minimum wage earners have been proven to be the backbone of the economy with many of them working as janitors, cleaners, shopkeepers, and delivery people. They are the ones that do the heavy-duty work. If they're paid better, the productivity would increase which would make the delivery of goods and services better.

A healthy economy is an equitable one, not rife with disparities. These disparities have only widened with the stagnation of income among minimum wage earners.